Pricing in Marketing – Definition, Strategy, Importance, Steps, Examples, and FAQs
Quick Summary Pricing is the strategic process of setting a product’s monetary value based on costs, competition, and customer perception. Key strategies include cost-based, demand-based, and competition-based pricing. Effective pricing impacts revenue, market positioning, and customer perception. Factors like costs, demand, competition, and perceived value influence pricing decisions. Examples include premium pricing (Gucci) and penetration … Read more